ChaTity number. 1054380 The Wells Church Unaudlted Trustees. report and financial statements For the period ended 31 December 2024
The Wells Church Contents Page Reference and admlnlstrative details of the Charlty, its Trusto9$ and advlsgrs Trustses, report Independent examinerfs report Statement of flnandal actfvities Balance shget 10 Notes to the flnanclal statements 11-25
The Wells ChurGh Relerence and adrninistratlvg detalls of the Charlty. Its Trustees and athii$ers For the period ended 31 December 2024 Trustee$ S Mayho lapwlnted 30 April 20241 l Martin (appointed 30 April 20241 M Winter (appointed 30 April 2024} 8 Hugh8s {appointed 30 April 20241 Dr B Rablu {appointed 1 October 2024) Charity reg15tered number 1054380 Prlnclpal offlGg Christian Centre Hanover Road Tunbridge Wells Kent TN11EY Accountants Kregton Reeves LLP Chartered Accountsnts 37 Sl Margaret's Street Canterbury Kent CT12TU Indopendenl Examlner Samantha Rouse FCCA DChA Kreston Reeves LLP 37 St Margarets Street Canterbury Kent CT12TU Page 1
The W8lls Church Trustsgs. report For the period ended 31 December 2024 The Charity was reglstered on 30th April 2024, and as suth the Trustees presant their annual report together with Ihe financial statements of the Charity for the peri(xl 30 April 2024 to 31 December 2024. The Annual report seryes the purposes of both a Trustees. report and a Directors. report under company law. The Trustees confirrn that the Annual report and financial statements of the Charity cornply with the curn1 statutory requirements, the requirements of the Charity's governing document and the provisions Df the Stat6menl of Recommended Practice ISORPI applicable to charities pr8paring their accounts in accordance with the Finanaal Reporting Standard applicable in the UK and Republic of Ireland IFRS102} leffecbve 1 January 20191. The Charity was fonned as part of a change of struclure from an unincorporated charity lo a CIO. The activitles and beneficiaries etc of the previous unincorporated charity. Tunbridge Wells Christian Fellowship, were transferred lo the new CIO. The Wells Church, on 30th Septernber 2024. The charity has applied merger accounting in the firsan(aal staternents. as permTlted under the Charity SORP, whgro a change in legal stru¢ture can be accounted for as a merger. As such. resulls of The Wells Church are dlsclosed for the 8 morrth period 30 April 2024 to 31 December 2024. The results for the prior peri are dlsclosad for the 16 month perio¢J 1 January 2023 to 29 April 2024. Since the Charity qualifies as Small under section 382 of th8 Companies Act 2006. the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors. Reporti Regulations 2013 has been omitted. ObjeCve3 and a¢tlvitloS a. Pollclos and objeGtiv8s The objects of the Church are: To advan the Christian faith in accordance with the Statement in such ways and in suc* parts of the United Sfjngdom or the world as the Church Council from time to time may think frt., To relleve sickness arsd financial hardship and lo promote and preserye good health by the provision of fvnds. goods or SeICeS of any kind including the provision of counselliw and support in such parts of the United Kingdom or the wodd as trie Church Council from time lo lime think fit.. To advance education in such ways and in such parts of the United ifjngdom or the wodd as the Church Council from time to time may think fil In setting objectives and pLqnning for activibes. th8 Trustees have given due consideration to general guidance published by the Charity Commission reLgting to public b8DefiL induding the guidance 'Public benofit= runrbing a ch8Thty IPB2)'. b. Vlsion & Values Our Vision and Values are expressed as follows: Mission-. B8ing good news Engaged in local and global mission. being invofved in ¢ommunlty transformation, equipping all of the church to live wth mtssional focus Authentic Community.. B8ing home for all Valuing everyone, b8ing a place where people are known and loved, being home for people from many cullures and nationalities. erkcouraging and modelling openness Transfomation.. Being shaped by J8SUS Maturing disciples of Jesus, davaloping leaders of all ages and culturas, applying God's word in pra¢li¢al ways leading to personal growth Courageous.'Being boldly confident in Jesus Living boldty in all things, encouraging and enabling peop18 to trust Jesus more Holy Spirtt Empowered.. Being uttedy dependent on God Pentecostal in practice. giving Spa for spiritual gifts, ntred on God's presence and with prayer at the heart ot all we do. Page 2
Thg Wells Church Trust893' report {contlnuod) For tho P8Tlod ended 31 December 2024 ObjgGtlvg5 and actItIoS (Gontlnuedl Sacrificial Serwce: 8eing generous at all times Sorving people in our communities and around the world, being generous wth all God has given, and continually thanlrful . Strategy To help us lake practical steps towards making our vision and values a reality. we follow three steps. inspired by the actions of the very first followers of Jesus. Gathering together lo encounter Gcm Growing together in God Going to live for Jesus every day Achlevements and perfom)ance a. Revlew of actIvltl8s Objectives and achievements for the year: We commenced 2024 with plans in to thanga our church name from Tunbridge Welts Christian Fellowshlp to The Wells Church, and to change our charitable structure at the same time, launching The Wells Church as a cio. Church Councll Securing our long temi property needs. The Trustees have also implemented a bng term Maintenan plan covering all of the church buildings, and are monltoring our long tefft) need for new and expanded building premises Translllon the church to a CIO model of charity incortJ)ratH)n. We have been worklng wlth our solicitotE on this, and the church name change will be induded in the transltlon to a CIO model. Approval for the new charity was given by the Charity Commission, and we transferred to The Wells Church under the new CIO model in the autumn of 2024. The transition lo a CIO model required signfficant wot* to work with our solicitors in preparing the new CIO dmentation. opening new bank accounts, arranging transfers bebNeen charitable trusts, and nolttyng all connected organisations. Church Church Name Continuing our work from 2023 and working with the Leadership Team, earfy in 2024 consultations wère hald th individuals in the church aboLrt the change of church name and presentations made lo ministry and group leader8 before being communicated lo the church as a whole. From late Septernber 2024 the church became known as The Wells Church. The support for this was overwhelmingty pOs"Ve. Develop and equip people for ministry and mission Through 2024 our Youth Ministy has been under new leadership, and we are seeing the fruit of this in increased engagement our youth, and especially with our young adults. We continue to work ts) support our ministy leadws. Lrfe Group leaders and all involved in ministy WSthin the church. Continue lo implement our expanded approach to personal, local and gbbal mission In a very real sense, 811 Ibat we do is connected with mission. We ran a short temi missions trip to Albania in 2024. This allowed for preparation in mission beforehand and for floW up those who went We continue to serve our local eommunty thr(MJgh our Llttle Stars Parent and Toddler Group and our Craft Group amongst other activities. We launched a new missional CAMUnIty called Famity Table in 2024. meeting at our South Sit6. and providing meals to members of the local community in a supporb.ve and nurturing environment. These meetings take place monthly. Page 3
The Wells Church Trustees. report Icontlnued) For the perlod ended 31 December 2024 Achlevoments and perfomiance (Gontlnued) Our Mission Support Team continues to develop our Oversea5 Mission support Isoe below) From mid-2024 onwards we have hosted an interdenominational gathering of like-minded Church leaders from across the town, committed to mwion. prayer and mutual SUPFX)rt. Attendance at our Sunday s8rviGes have grown through 2024. and we were ablo to baptise people in 2024 and six so far in 2025. Our youth group and childr8n's group Radiant lfjds have also Increased their attendance through the year. We have continued to run Little Stars, our Parent and T(dIer Group, during 2024, which is much appreciated by the growing group of parents and children who access thls. Additionally we continued our Craft Group. which has proved popular. Other charitable acllvltles Our Foodbank has continued to provide SUPFX)rt and help for thIY6e in the thurch as well as other needy people, though there was less uptake of resources than wa5 antiupated. We are now working in partnership with Crosslight. a local debt advice charity and provide food in support of people that they are helping. b. Leadership Teams We have continued worlung th the following structLtre throughout the year. and have grown into this model of leadership. Leadership Team.. This is our eldership team, responsible for the overall spirittjal leadership of the chur(. Duiing 2024 our team has continued with seven m8mber5, With one member taking a break from the team. Church Council.. This is our trusteeship. responsible for the govemance of the church. lan Martin has continued to serve as the Chair of the Chur( Council. Duiing 2024 we have Gontir)ued with four members, appointing a frfth trustee in 2025 Prudence Maseko is our Treasurer. . Overseas Mlsslon We completed our support of an established church in India. SuppOng church plant5ng in rural mmunltles. We continue to active support and engage with regular gmng to our mission partners in Asia, Affica, Albania. and locally via WIN {Wodd in Need}. Additional gtving is raised and givell through the year lo other projects on an ad hoc basis. Our Mission Support Tearn has met throughout the year to pray for the projects we support, and plan how to further support, promote and progress our overseas mission work. Our global mission team has continued to expand our investment in missions, with updaled18vels of support en8bling us to support more organisalions who are in line with our vision and values, and enabling more mission activity to tske place. Additionally during 2024 we supported members of the congregation who were exploring a call lo serve God overseas, and this will continue through 2025. One couple spent much of 2024 serying wlh an established mission agency in Bolswana. We also working clos8ly with one person ffom the church who has begun working overseas in partnership with another established missions agency. ready in 2025 we've supported one family to go to serve in Albania with 8 further mission agency. In addition lo our organized activibes, members of TWCFrrwc Church continue lo be wo11 represented in other local charities and activities. Based on work done by our MST, we have b88n transferring 70A of our illCDme from general offerings towards the work of Mission. in addition to the designated ftjnds which are given to Mission. Page 4
The Wolls Church Trustees. report Iconlinugd) For tho period ended 31 DoG8mber 2024 Flnancial review . Golng conGem The Trustees have a reasonable expectation thal the charity has adequate rgsources to continue in operational exlslence for the foreseeable future. For this reason. they continue to adopt th& going con¢em basis in preparing the flnancial stalemenls. Further details regardlng the adoption of the going concern basis can be found in th8 accounting pdiclgs. b. ReseNes policy The Church Council considers the raserves position on a regular basis lo ensure surplus is available to maintain the ministry. As a guide we seek to maintain a balance equivalent lo around 3 to 6 months, expenditure in a general reserve. Additional reserves for building funds. or futrjre ministy investment may also be held. The lovels of these reserves are reviewed regularty by our Church Council. At the balance sheet date our general res6rves totaled £342.544. excluding legacy and property Stewardship (building sinking) funds. This balance is higher than our reseryes policy. which will assist us with our fvture plans, especially in relation to staffing, missions and meeting p[as. c. Revlew of flnan¢ial actlvlties The statement of financial activities on page 9 shows total incoming sOurceS for th8 period of £180,040 (prior period.. £402,107). and total expenditure of £188.502 {prior period- £342.6121. Beforo transfers. general ndS have decreased by £8.480. d. Fundlng sources The vast majority of our funding comes from the congregation and from the associated grft aid reclaimed on this giving. We are very grateful for the continued, faithfijl giving of the church congregation which &nab5es the work of the Charity lo conlinue and to thrive. In tum the giving of the church, especially in gard to our missions giving. allows us to be generous wtth our supp(wt of extemal missions patkn8rs and partner organisations. . Safeguardlng Tunbridge W8118 Christian Fellowship adopts and implements a safeguarding policy drawn up in ¢onlunetlon wlth Thirty One.'Eight (formerly the Churches Chitd Protection Adwsory Service). f. Rlsk On an ongoing basis the Church Council rewews and maintains a risk regisl8r setting4)ut the risks. mitigations and residual risks faced by the charity- The Church maintains a wide-range of policies to assist in the fulfilment of ils responsibilities and management of its risks. g. Worklng overs8as We monitor and review our relationship with our missions partners to ensure the effeth'veness of our 8UPPOrt in line with our charitable objects. We did not receive monies from overseas donors in 2024. Any funds sent to missions partners are sent through the regulated banking system lo thosa wth whom we havo an ongoing relationship, where reporting back to us as a thurch is provided. and where personal visits to meet our missions, Partners are possible - either here in the UK or overseas. Page 5
The Wells Church Trustees. r8port Icontlnued) For the perlod ended 31 December 2024 structure. governance and management a. Constitutlon The Wells Church is a registered charity, number 1054380, and is constituted under a charitable trust deed dated 2 December 1993. During 2024 we changed our name lo The Wells Church and adopted a new CIO constitution for The Wells Church, charity number 1208051. b. Plethods of appolntrnent or electlon of Trustees Under the CIO model for The Wells Church the management of the charity is the responsibility of the Chur¢h Council, which Is made up of Trustees. one of whom is the Senior Paslor. The day lo day running and leadlng of the church is delegated to the Senior Pastor, Leadership Team and appointed staff. . Organisational stru¢tur¢ and decisionwmaking pollcles The Church Coun(31 is required to meet at least once a quarter. though In practice meets more often than this as datormined by the needs of the church. The Church Council is Sponble for ensuring the govemance of the church, induding ensuring that 1 legal, regulatory and finanNal requirements are adhered lo and that a suitable governance structure is in place to manage the church. The Wells Church is affiliated to the Assemblies of God in Great Britain, a ¢ompany Ilmited by guarantee {no. 28734151. and a registered charity (no. 1032245). d. Govemance Pollcy As a Church Counc51 we sought lo address areas of policy development to ensure good govomanc& across the organisatlon. Durtng 2024 we introduced policies in several key areas. and reviewed and updated others. Church Council Prudence Masako is the church Treasurer, and report5 to the Church Council. lan Martin is the Chair of the Church Council. Page 6
The Wells Church Tru5tee5' report (contlnued) For the perlod ended 31 December 2024 Staternent of Tru5tees' responslblllties The TTUSte8s (who are a150 the directors of the Charity for the purposes of company law) aro rosponsible for preporing the Trustees, report and th& finanaal stalem@nts in accordance with applicabl8 Law and United Kingdom Accounting Stsndards (United Kingdom Generally Acceplgd Accounting Practice). Company law requires the Trustees to prepare finanaal statements for each financial psriod. Under company law, the Tnjstees must not approve the financial statements unless they are satisfied that th8y give a true and fair view of the stale of affairs of the Charity and of its incoming resources and application of r@SOLsrces, including its income and expenditure, for that period. In preparing these financial statements, the Trustees are required to.. select suitable accoUnn9 policies and then apptythem consistendy, obsorve the methods and princip5 ofthe Chartbes SORP IFRS 1021.. mak9 judgments and acc(nting estimates that are reasonable and prudent,. slate wheth8r applicable UK Accounting Standards IFRS 1021 have been folknwed, subject to any material departures disclosed and explained in Ihe }Inan81 statements- prepare the financial slatemenls on the going concem basis unless it is inappropriate to presume that the Charity will continue in business. The Trustees are resrh)nsible for keeping adequate accounting re(y)rds that are SLrfficienl lo show and explain the Chartty's transactions and disclose th reasonable accuracy at any time the financial position of the Charity and enable them lo ensure that the finan&al statements comply wth the Companies Act 2006. They are also responsible lor safeguarding the assets of the Chartty and hence for taknng reasonable steps for the pr8venlion and detection of fraud and other irregularities. Approved by order of the members of the board of Trustees and signed on their behalf by. S Mayho Dale= Page 7
The Wells Church Independent examlner's report For the period ended 31 Decernber 2024 Ind8pond8nt oxamlner'5 report to the Trustees of The Wells Church fthe Charity. I report to the Gharity Trustees Dn my examlnauon of the accounts of the Charity for the perlod ended 31 December2024. Responslbllltl85 and ba51s of report As Ihg Trust8es of the you are responsible for the preparation of the accounts In accordan¢¢ wlth the requir8ments of the Chartiie5 Act 2011 (Yie 2011 ACV). I report in resp8Ct of my examination of the charTirfs accounts carried out under section 145 of the 2011 Act and in carrying out my examination I have folk)wed the applicale Directions given by the Charity Commission under section 145151(bl of the 2011 Act. Independent examiner's statgmonl I have completed my examination. I confirm that no matters have come to my attention in connection with lh¢ examlnalion giving me cause to believe that in any Materi respect: occounting records were not kept in respect of the Charity as required by seetlon 386 of Ihe 2006 Act,. or the accounts do not acwrd with those records," or the accounts do not comply wth the applicable requirements conceming th8 fonn and content of accounts sel out in the Charities (Accounts and Reports) Regulations 2008 oth8r than any requir8mont that the accounts give a Inje and fairf wew which is not a matter considered as part of an ind8pend8nl examination. I have no concems and have come across no other matters in connection wth the examination lo which attention should be érawn in this report in order to enable a proper understanding of the accounts to be reached. Signed: 7n Dated= 28 October 2025 S M Rouse FCCA DChA Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT12TU Page 8
The Wells ChurGh statement otflnanclal actlvltlos {Incorporating income and expenditure ac¢ount) For the perfod ended 31 Decembgr 2024 Unrostricted Restricted Total Total funds funds funds rbds .P8rlod 8nded Petlod ended Period ended Period ended 31 Docember 31 December 31 December 29 April 2024 2024 2024 2024 Nole Incomo frorn.. Donations and legacies Charitable activtties Investments 150,279 14,375 14.886 500 150,T19 14,375 14,886 342,336 42,398 17,373 Total Income 179.540 soo 180.040 402,107 Expenditure on: Charitable activities 188.020 500 188.520 342,612 Total expendlture 188,020 soo 188,520 342,612 Net movement Sn funds (8,4801 {8A80} 59,495 Reconclllatlon of funds: T¢tal funds brought fOard Net movement in fullds 1.897.021 (8rt801 4174 1,901,195 {8A80) 1.841,700 59,495 Total funds cathed forward 1,888,$41 4.174 1.892,715 1,901,195 The Statement of flnancial activtties includes all galns and losses reccKJnlsed in the riod. The notes on pages 11 to 25 fomi part of these finanaal statements. Page g
The Wells Church Reglsterod number. Balance Sheet A5 at 31 December 2024 31 t>ecember 2024 29 April 2024 Fixed assets Tanglble assets Investment propety 11 12 1,306.934 227,000 1,323,862 227,000 1.533,934 1,550,862 Current assets Debtors Cash at bank and in hand 13 9.821 352.560 343,964 362.381 352,607 Current liabilltios Creditors.. amounts falling due within one year 14 (3.6001 {2,2741 Net current assets 358,781 350,333 Total assets less CUbTent liabilities 1.892,715 1,901,195 Totsl net ass8ts 1.892.715 1,901,195 Charlty fund8 Restricted funds Unreslricled funds 15 15 4174 1.888,541 4,174 1,897,021 Total funds 1,892,715 1,901,195 The Charity was entiued to exemption from audit under section 477 of the Companies Act 2006. The members have not required the wmpany to obtsin an audit for the period in question in accordance with sectlon 476 of Companies Act 21)06. The Trustees acknowledge their responsibilibes for complying yth the requirements of the Act respect to accounting T8cords and preparntion of financial statements. The financial statements have been prepared in accordance wth the provisions applicable to entities subject to the Small o)mpanies regime. The financial statements were approved and authorised for issue by the Trustees and signed on thelr beha by.. S Mayho Date.. Til,.1 The notes on page$ 11 to 25 fom part ofthese financial statements. Page 10
The Wells Church Notes to th¢ financlal statements For the period ¢nded 31 December 2024 General inforniatlon The Wells Church Is a chanty registered In England and Wales with charfly number 1054380. Its principal office addres$19 Christian Centre. Hanover Road, Tunbridge WelL8, Kent TN11 EY. Accounting poli¢ies 2.1 Basis of preparatlon of flnanclal slatements Thefinancial stslemants have been prepared in accordanc&with the Charities SORP IFRS 102) - Accounting and Reporllng by Charitses: Slalemenl of Recommend8d Practice applicablfj 10 charities preparing thelr accounts in accordance wth the Financlal Reporting Standard applicable in the UKand Republic of Ireland IFRS 1021 leffectiv8 1 January 20191, the Financial Reporbng Standard appli¢able in the UK and Republic of Ireland IFRS 1021 and the Charities Act 2011. The Chanty was formed as part of a change of sljucture from an unincorporalod charity lo a CIO. The activities and beneficiaries etc of the prev7ou$ unincorporated Charity. Tunbridge Wells Christian Fellowshlp. were transferred to the new CIO, The Wells Church, on 30th September 2024. The charfty has applied merger accounting in the finanaal slaternents, as pemiitted under the Charfty SORP. where a change In legal structure can be accounted for as a merger. As such. results of The Wells Church are dlsclos8d for the 8 morrth period 30 Wil 2024 to 31 December 2024. The results for the prior period are disclosed for the 16 month period 1 January 2023 10 29 April 2024. The Wells Church meets the defintlion of a public benefft entity under FRS 102. Assgls and liabiltties are initsalty re(x)gnised at hISl¢al cost or transaction value unless otheiS9 statsd in the revant accounting policy. The financlal statements have been prepared in Briush Stedlng and are rounded to th8 nearest Pound. 2.2 Golng concern The Trustees asséss whethertt)e use of going con¢2m is appioprial6 i.e. whether there are any material uncertainties rdated to events or conditions that may cast significant doubt on the ability ofthe Charityto Continue as a g(xng concem. The Trustees make this assessment in respect of a period of al least one year from the date of authoris8tion for issue of the financial statements and have concILed thal the Chanty has adequate resources to continue in operational existence for the foreseeable future and there are no malerial uncértainties about the Charitys ability to continue as a going concem. thus they continue lo adopt the going concern basis of actx)unting in preparing the financial statements. Page11
The Wells Church Notes to the Ilnanclal stslements For the perlod ended 31 Decembor 2024 Accounting policios (continugd) 2.3 Income Atl income is r8cogni5ed once the Charity has enlitlement to the income, it is probable that the income will be received and the arnount of income receivable can bo mgasured reliably. The recognition of incom8 frorn legaaes is dependent on establishing entitlement. the probability of receipt and th8 ability to estimate wtth sufficient accuracy the amount receivable. Evidence of entitlement lo a acY exists when the Charyty has sufflclent evidence that a gift has been Igft to them (through knowledge of the existence of a valid will and the death of the benefaclorl and the executor is satisfied that the property in question will not be requir8d to satlsfy claims in the estate. Receipt of a legacy must be recognised when it is probable that il wlll be recelved and the fair valua of the amount receivable, which wll generalty be the expected cash amount to be distributed to the Charity, can be reliabty measured. Income tax recoverable in relation lo donations received under Grft Aid or deed8 of covenant 18 recognised at the time of the donation. 2.4 Expenditure Expenditure is reeognised once there is a legal or constructivo obligation to transfer en0[HIC benefit to a third party. it is probabk that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on tharitable activities is Inc#Jrred on direcuy undertaking the activities which further the Charitys objectives, as well as any assoaated support Ix)sts. Grants payab are charged in 1h8 perilxl when the offer Is made except in those cases where th8 offer is conditional, such grants being recognised as expenditure when the conditions attaching are fulff Iled. Grants offered subject to conditions which have rKJt been met at the perlod end are nol8d as a commitment. bLrt not accNed as expenditure. All expenditure is inclusive of irreLJMrabl8 VAT. 2.5 Interest rgGeivable Interest on funds hekt on deposit is induded when receivable and the amount can be measured reliably by the Charity., this is nomally upon notification of the interest paid or payable by the Institution with whom the funds are depy)sited. 2.6 Tanglble flxed assets and depreclatioD Tangible fixed assets costing £1.000 or more are capitalised and recognised when future economi¢ benefits are probable and the cost or value of the asset can be measured reliably. Tangible fixed assets are inTbalty recognised at cost After recognition, under the cost model, tangible fixed assets are measured al cost bss accutnulated depreciat and any accumulated impairment losses. All costs incurred to br(ng a tsngibl8 fix8d asset into its intended worng condition should be included in the measuremenl of cosL Page 12
Th& W911s Church Notes to the flnanclal ¥tstements For the perlod ended 31 Dg¢ember 2024 Accounting pollGIg5 {Gontlnued) 2.6 Tanglble fixod assets and depreclatlon (contlnuedl Depreryab'on is charged so as to allocate the cost of langlble fixed assets less their residual value over their estimated usefvl INe5. on a redung balance basis. Depreciation is provided on the followng bases: Long-temi leasehold pmperty - 50 years or Ihe term of the lease on a straight line basis 20% reducing balance 20% reducing balance Plant and machinery Fixtures and fittings Freehold land is not depre¢iated as tt is nol consumed by use. The freehold manse building is not éepreoated due lo the anticipated immaterial fall in long lemi valu6. 2.7 Debtors Traée and other debtors are recognised at the settlement amount after any trade discount offer8d. Prepayments are valued at the amount prepaid net of any trade discounts due. 2.8 Cash at bank and In hand Cash al bank and in hand includes cash and short-term highw liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. 2.9 Uabilltles and provisions Liabilltles are recognised when there is an obligation at the Balance sheet dale as a result of a past ovent, It Is probable that a transfer of economic benefrt wll be required in settlement. 8r)d the amount of the Settlement be esttmated reliabty. 2.10 FinanGlal Instruments The Charty onty has financlal assets and financial liabrlities of a kind that qualify as basic financial instruments. Basic financial instruments are initi.ally recognised al transaction value and subsequently measured at their settlement value wrth the excepkn'on of bank bans which are subwuently measured at amtsrttsed cosl using the effective interest method. 2.11 Penslons The Charity operates a defined contribLrtion pension scheme and the pension charge r8presents the amounts payable bylhe Charity to Ihe fund in respect of th8 peri¢xl. Page 13
The Wells Church Notes to the flnanclal statement5 For thg period onded 31 December 2024 A¢¢ountlng pollcle5 (continued) 2.12 Fund aGGountlng Gengral ftjnds are unrestricted funds %thich are availabb for use at the disGrelion of the Trustees In furtherance of the general objedves of the Charity and which havg not been designated for other purposes. Designated funds comprise unrestricted fvnds that have been set aside by the Trustees for particular purpos8s. The aim and use of each designated fund is set OLrt in the notes to Ih8 financial stal8m8nls. Restrtcted funds are funds whith are to be used in accordance with specific restrictions imposed by donots or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds aTe charged against the sriG lund. The aim and usg of @ach r&strict8d fund is set out In the notes to the financial statements. 2.13 Merger accountlng Merger atLounling principles are applied in accordan(* FRS102. Wlth merger accounting, the carrylng values of the assets and liabilities of the parties lo the merger are not required to be adjusted to fair value. atthough appropriate adjustments are made to acheive unifomty of accounting policies where necessary. On 29 September 2024. the activibes of Tunbridge Wells Christian Fellowship Iregistered charity number 1054380) along I1h 1 their assets and babililies were merged with The Wells Church (registered charity number 1208051). The financial statements have been prepared using merger accounting, and apptylng the true and falr override given that th8 merged enttty Is a charitable inCoorated organisalion. The combinatlon of Tunbridge Wells Christian Felk)wship and The Wells Church has mel the merger accountiw criteria under FRS102. When the charibes merged, their purposes wore concurrent and the purposes of the merged reporting entity oncompass those of the combining charities, no significant change lo classes of beneficiaries or th8 purpose of the beneffts provided. The Tnjslees have considered the requir8ments of FRS102 and the SORP in making this decision. and have theref(xe adopted merger accounting as the most appropriate form of disclosure so that the financial slalements show a tnje and fair vi8w. Accordingty, as prescribed in the SORP. the comparative financial statements show the aggregate results for tha combined chadties. Page 14
Tho Wglls Church Notes to the flnanclal $tatÈmerrts For the perlod ended 31 De¢ember 2024 Income from donation$ and legacie5 Unrestricted Restrlcted Totsl funds funds fund$ Perlod Period Poriod Total ended ended ended funds 31 31 31 Period ended December Decernb&r DoGgmbor 29 April 2024 2024 2024 2024 Tithes and offerirys Faith promise Tax recoverable Other gifts 150.279 150,279 500 263,047 24,618 30,312 24,359 500 150,279 500 150,779 342,336 Income from charltable actlvttles Unrestrfctod funds Perlod ended 31 December 2024 Total funds Period Total ended funds 31 Period ended Doc8mbar 29 April 2024 2024 Church retreats and events Hall hire 1,070 13.305 1,070 13,305 17.465 24,933 14.375 14,375 42,398 Investmenl Income Unrestrlcted funds Perlod ended 31 December 2024 Total tunds Period Total ended funds 31 Period ended December 29 April 2024 2024 Rent receivable Bank interest 7,200 7.686 7,200 7.686 14,025 3,348 14.886 14.886 17,373 Page 15
The Walls Church Not95 to the financlal statements Forthe period ended 31 December2024 Anatysl8 of grants Total funds Period Total ended funds 31 Perfod ended D8Gamber 29 April 2024 2024 Grants Perlod ended 31 December 2024 Grants for UK and overseas mission 19.425 19.425 57,019 Analysis of expendlturg on Gharltable activltles Summary by lund type Unrestrlcted Restricted funds fund$ Period Period ended ended 31 31 December December 2024 2024 Total Period ended Total 31 Period ended December 29 April 2024 2024 Staff costs- excludlng benefrts Christiarb Centre- runnlng costs Southem Site - running costs {including cost of lease extension) Manse- nt and running costs Church and office- running costs Child.$ and youth ministri8S Other ministries Travel and expenses Grants payable Depreciation of tangible ffixed assets Indepgndent examination fee 77,865 22.443 77,865 22.443 148,705 24,316 5.301 11,142 19.190 5.568 6.800 258 5,301 11,142 19,190 5,568 6,800 258 19,42S 16,928 3.600 15,667 19,966 14,636 3,073 35,342 4,512 57,019 17,102 2.274 18,925 16.928 3.600 500 188,020 500 188,520 342,612 Page 16
The Wells Church Notes to the financlal statamants For the period ended 31 December 2024 Independent examlnorfs remunfrratlon Perlod ended 31 Period ended December 29 April 2024 2024 Fees payable lo the Charity's independent examiner for the independent examination of Ihe Charivs annual accounts 3.600 2,274 staff costs Period ended 31 Peric&l ended December 29 April 2024 2024 Wages and salaries Social security costs Contribution to defined ntribu1'0n pension schemes 69,786 4.031 4.048 132,958 4,626 11.121 77,865 148,705 The average number of persons employed by the Charity during th8 petiod was as follows: Perfod ended 31 Period ended December 29 April 2024 2024 No. Charitable activities No employee received remuneration amounting to more than £60.000 in either year. The total employynent beneffts tsf the key management personnel were £34,892 including employerfs national insLsrance contributions of £3,002 12023 £64,716 including employerfs national insurance ¢ontrtbLJtions of £5,586). The charitys key management comprise the trusteeg named on page 1 which includes one Trustee who also serves as a church leader. Page 17
Th¢ Well$ Chur¢h Notes to the flnanclal statements For the perlod ended 31 DeGembèr 2024 10. Trustees, remuneration and expens8s During the period, one Truste8 has been paid remuneration or has recoived other benefits from an employment with tho Charity- S. Mayho serves as a church 18ad8r and received the payThenls below for sgrving in that capacity, not for serving as a Trustee. Thes8 payTn6nls are perynitted by the charitys goveming document. Tr8 value of TNstees' remuneration and other beneffts was as follows: Period ended 31 Period ended December 29 April 2024 2024 S Mayho Remuneration Pension wntributions paid Other benefits 27,815 2.414 1.190 52.611 4,737 2,253 During the peTiod ended 31 December 2024. no Trustee expenses have been in¢urred12024- £NIL). 11. Tangibl8 ffxed assets Long48mi leasehold proporty Freehold pr¢)perty Plant and Fixtures and machlnery fittings Total Cost or valuation At 30 April 2024 541,152 957.815 33.856 23,877 1,556,700 At 31 DeceM1r 2024 541,152 957,815 33,856 23,877 1,556,700 Depreclatlon At 30 April 2024 Charge for the period 178,575 16.234 33.624 20.639 648 232,838 16.928 At 31 DgC8mber 2024 194,809 33.670 21,287 249,766 Nat book value At 31 December 2024 541.152 763.006 2.590 1.306,934 At29 April 2024 541.152 779,240 232 3,238 1,323,862 Page 18
The Wells Church Notes to the flnanGlal statements For the perlod ended 31 December 2024 12. Invgstrngnt property Freehold Investment property Valuatlon At 30 April 2024 227,000 At 31 December 2024 227,000 The investment property included at the trustees, valu8Uon, which Is based on recent sales of similar properties. 13. Debtors 31 December 2024 . 29 April 2024 Due wlthln one year other debtors 9,821 8,643 14 Creditors: knounts falllng due wllhin one year 31 December 2024 29 April 2024 Accruals and deferred income 3.600 2,274 Page 19
The Wells Church Notos to the flnanclal statements For the period ended 31 December 2024 15. Statement of funds ststement of funds - current perlod Balance at 31 December 2024 Balance at 30 April 2024 Transfers Inlout Income Expendlture Unrestrlcted funds Dgslgnated fvnds Propety fund Building sinking fund 1.550,862 14,839 {19,7041 1,531,158 14,839 1,565,701 {19,704) 1,545,997 General funds General Funds 331.320 179,540 1188,0201 19.704 342,544 Totsl Unr8strlcted funds 1,897,021 179,540 (188,020) 1.888.541 RestriGtsd funds Faith promise- general mission Missions training fund 4,174 (5001 {4,111) 4,111 4,111 4,174 (5001 4,174 Totsl of funds 1,901,195 180.040 (188.520> 1,B92,715 Nature and purpose of deslgnated funds The designated property fund rgpr8S8nts the value of all property held by the charity less the outstandlng mortgage. The designated Building Sinking Fund was designated during the year, and is money designated for building rofurbishments and repair. Nature and purpose of rostri¢ted fvnds The restricted Fatth Promise fund is for general mission WO of the church, which includ8s sp8Ctfic misslonaries alld mission work. It indudes funds received for the support of those nominated indNiduals and mission trips. The restricted Mission training fund is used to nd training. Page 20
The Wells Church Notes to the financial statements Forthe perfod ended 31 December 2024 15. Statement of funds (contlnued) Statement of fund5 - prlor period Balance at 30 January 2023 Transfers Balance al inlout 29 April 2024 Inrne Expendilure Unrestrfcted funds Designatgd funds Propety fund Building sinknng fund 1.533.825 17,037 14,839 1,550,862 14,839 1,533,825 31.876 1.565,701 General funds General Fund 303,227 365,630 {305,661 } {31,876) 331.320 Total Unrestricted funds 1,837.052 365.630 {305.661 } 1.897,021 Restrfcted funds Faith promise- gener mission 36.477 (36.951 } 4,174 Total of fund8 1,841,700 402,107 {342,612) 1.901,195 Page 21
The Wells Church Note5 to the flnanclal statements For the period ended 310ocember 2024 16. Summary of funds Summary of funds- current porfod Balanc8 at 31 December 2024 Balance at 30 April 2024 Transfers Inlout Income Expenditure Designated funds General funds Restricted funds 1,565.701 331,320 4,174 (19.704) 1.545.997 19,704 342,544 4,174 179,540 500 (188,020) {500) 1,901.195 180.040 {188,520) 1.892,715 Summary of funds - prlor perlod Balance at 30 January 2023 Transfers Balance at inlout 29 April 2024 Income Expenditure Designated fijnds General funds Restrict8d funds 1,533,825 303,227 31,876 (31.876} 1,565,701 331.320 4,174 365,630 36.477 1305.661) 136.9511 1,841,700 402.107 1342.612) 1,901,195 17. Analysis of net assats between funds Analysls of net assets between fvnds- current perlod Unrestrlctad Restrlcted fvnds funds 31 31 December Decembor 2024 2024 Total funds 31 December 2024 Tangible fixed ass8ls Investment propety Current assets Creditors due within one year 1.306.934 227,000 358.207 {3,6001 1,306,934 227.000 362,381 {3.6001 4.174 Total 1,888,541 4.174 1,892.715 Page 22
The Wells Church Notss to the Ilnancial 5tatsmonts For the perlod ended 31 DaGomber 2024 17. Analy51s of not assets between funds {contlnued) Analysls of net assets betwgon funds - prior period Unrestricled funds 29 April 2024 Restricted funds 29 April 2024 Total funds 29 April 2024 Tangible fixed assets Investment property Current assets Creditors due wtthin one year 1.323,862 227.000 348,433 12,2741 1,323,862 227,000 352,607 {2,2741 4,174 Total 1.897.021 4,174 1.901,195 18. Pension Gommitments The charity utilises an extem81ty provided defined contribution pension schem?. Tho assets of the scheme are held separately from those of the charity in an independenty administered fund. The pension cost charge ropr8sents contribLrtions payable by the charity lo the fund and amounted to £8,252 (2023 £15,131). No contributions were payable to the fvnd al the banCe sheet date (2023 - £Nil}. 19. Related party transactlons During the year. the charity r8celved donations totalllng £23,728 (2023 £40.799) frDm related parties (which includes tnjstees, anyone closety connected wth them and key management personn811. Except as disclosed in note 10. there have been no other transaclÉons with relaled parties during the year. 20. Merger accountlng On 2Slh September 2024, the acttviti8s of Tuftbridge Wells Christian Fellowship {registered charity number 10543801 along with all their a&%ets and liabilrtles were merged wth The Wells Church {regislered charity number 1208051 }. The financial statements have been prepared using merger accounting. and apptying Ihe true and fair override given that the merged enltty is a charitable incorporated organisalion. The combination of Tunbridge Wells Christian Fallowship ITWCFI and The Wells Church has met the merger accounting criteria under FRS102. When the chaTtiies. merged. their purposes were concurrent and the purposes of the merged reporting entity encompass those of the combining charities, with no signfficant change to classes of benefioaries or the purpose of thg beneffts provided. The TSle0S have considered the requirements of FRS102 and the SORP in making this decision, and have therefore adopted merger accountlng as Ihe most appropriate fomi tsf disclosLtre so that the financial statments show a true and fair view. Aecordingty. as prescrsbed in the SORP. Ihe comparative financial stal8m8nls shi)w the aggregate results for the combined tharities. Page 23
Thewells Church Notes to the fin8nclal statements For the perlod gnded 31 December2024 Analy51s of prlnclpal SOFA components for the current reporting period Wells Church (post Comblned merger) total TWCF (pre- merger} Total income Total expendlture 108,050 (101,178) 71,990 180.040 187,3421 (188,5201 N8t Incomg1{8xp8ndltural Other gainslllosses) 6.872 115,352) {8,480) Net movement in fund5 6,872 115,3521 {8,4801 Analysls of prlnclpal SOFA compononts for the prevlous reporting period Comblned total Period ended 29 April 2024 TWCF Perlod ended 29 Aprll 2024 Total income Total expenditure 402.107 402,107 1342,612) (342,612) Net incomel{expendltur&l Other gainslllossesl Total funds brought forward 59,495 59A95 1,841.700 1,841,700 Total funds carrled fOard 1,901,195 1.901.195 As The Wells Church was a newty incorporated charity at the (late of the merger, tho income and expenditure for The Wells Church was £Nil. Page 24
The Wells Church Notes to the flnanGial statements For the perfod onded 31 December 2024 Analysis of net assets at the datg of merger Comblned TWCF total Asat Asat 30 30 September September 2024 2024 Nel assets 1.908,067 1.908,067 1,908.067 1.908,067 Represented by. Unrestricted funds Reslricted fund8 1,903.893 4,174 1,903,893 4174 1,908,D67 1,908,067 Total funds As The Wells Chur¢h was a newty incorporated charity. tts net assets and funds at the date ofthe merger were £Nil. Page 25